LISTED Visayas-Mindanao developer Cebu Landmasters, Inc. (CLI) said Thursday that its Velmiro Heights Davao project had generated sales of P2.7 billion and was sold out just a few weeks after its market launch.
"The record-breaking sales performance of Velmiro Heights Davao shows the strong market acceptance of CLI's projects in Davao," company Chairman and CEO Jose Soberano III said in a statement.
The 11.52-hectare development is located in Barangay Magtuod, northwest of the city proper, and offers single-detached and single-attached houses on lots ranging from 100 square meters (sqm) to 258 sqm that are priced at P5.2 million to P11.15 million.
The project is part of the Velmiro brand's garden series catering to mid-market buyers that is currently comprised of 2,377 residential units in the Visayas and Mindanao.
Apart from residential units, CLI also has hotel, mixed-use and township projects in Davao, including the 694-unit Mesatierra Garden Residences and the 23-hectare Davao Global Township.
By the fourth quarter of this year, it plans to start turning over units of Casa Mira Towers LPU Davao along with those from One Paragon Place, the residential component of the mixed-use The Paragon Davao.
It said the 263-room Citadines Paragon Davao "will be opening its doors to the public in early 2026."
The developer said that it had delivered over 16,000 housing units across 94 residential projects in 17 key cities in the Visayas and Mindanao region, with nearly 4,600 units of these in Davao City, and that it will "soon be expanding to Luzon."
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